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SOUTH KOREA: Finance Leaders Meeting Confirms Injection of Funds. 

SOUTH KOREA
EM BulletBulletSouth KoreaAPACEmerging Market News
  • Korea’s finance ministry convened a meeting on Monday focusing on the necessary structural reforms for the economy as well as the current financial strategy.
  • The meeting was attended by the Deputy Prime Minister, the Finance Minister, BOK Governor, Financial Services Chairman and Financial Supervisory Chairman.
  • There was confirmation of government injections of KRW30bn into equity markets over the last week.
  • Over the course of this week a further KRW70bn will be injected into markets, a further KRW30bn next week and an additional KRW300bn market stabilization fund to be established.
  • Emergency bond buybacks, FX liquidity support and structural reforms for FX inflows will be implemented if needed.
  • Since the Political turmoil started on December 3, the KOSPI had until yesterday’s China stimulus rally, been down over 5%, the KRW is down -1.5% in the last 5 trading days and the KTB 10 yr is 8bps lower at 2.64%. 
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  • Korea’s finance ministry convened a meeting on Monday focusing on the necessary structural reforms for the economy as well as the current financial strategy.
  • The meeting was attended by the Deputy Prime Minister, the Finance Minister, BOK Governor, Financial Services Chairman and Financial Supervisory Chairman.
  • There was confirmation of government injections of KRW30bn into equity markets over the last week.
  • Over the course of this week a further KRW70bn will be injected into markets, a further KRW30bn next week and an additional KRW300bn market stabilization fund to be established.
  • Emergency bond buybacks, FX liquidity support and structural reforms for FX inflows will be implemented if needed.
  • Since the Political turmoil started on December 3, the KOSPI had until yesterday’s China stimulus rally, been down over 5%, the KRW is down -1.5% in the last 5 trading days and the KTB 10 yr is 8bps lower at 2.64%.